Trading is as simple as ABCD

Thanks capstone appreciate your comments..

Nice to see you up so early but hardly worth your while not the best LO ever, a bit rangy today. Probably means a good NYO session to come so enjoy yourself, make some pips, just follow the 1 min trends on top trenders entering on every pullback at key levels.

Hows your trading going?? Haven't seen too many trades on your journal recently???

Catch up with you soon...

Do not be fooled by the time. You are one hour later (and 1 hour closer to us for this week), lol. It is true, I have not had many trades the last week or two. Back at it hard this week though.

had an absolutely disastrous morning this morning, been reading a thread "Trend is your enemy" Mr Ullen is a confirmed counter trend trader for sure and by pure coincidence also had a chat with Ted last night who had been chatting to another trader who swears by buying the first HL or selling the first LH after a strong move... Basically trading reversals and when you look back over some nice reversal charts those first HL's and LH's look very rewarding...

Only trouble is what you don't see is all those HL's and LH's that don't work!!!

Well I found a few this morning thats for sure. Don't know why I try these things out really as I know my biggest problem is trying to get into reversals far too early whilst the battles still raging, far better to wait for the fight to finish and see who comes out the victor then jump on board, might not be quite so many pips as when you catch that first pullback but saves a lot of sweat and tears when you get it wrong...

Thats the thing about trading theres not one system that fits all. We all have to find what works for us then stick to it. Anyway its confirmed to me the best way for me personally is to trade with the trend and the strongest ones at that, soon as there's the first sign its ending leave it alone and go and find another chart thats trending strongly...

Yep I'm a confirmed trend trader thats for sure as my little venture into reversal hunting just didn't do it for me, but I knew that already, my biggest losers always come from me trading counter trend also of course when you trade with the trend your winners are bigger too, and as we all know thats the secret to a successful trader, bigger winners than their losers...

OK normal service resumed will only look for trades with the trend and the strongest trenders at that....

Back to trading with the trend for me my little excursion to counter trend trading far too costly so grabbed a quick 6.1 pips here just to get me back into my winning trend trading habits...



I know theres a lot of successful counter trend traders out there but for me it just makes so much more sense to trade with it until it ends, just watch out for weak AB moves or failed drives when price doesn't clearly take out the last drive as this is the first sign the trend you're trading is in trouble.

I am going to keep an eye out for reversals as the best entry is at the start of a new trend, the first pullback as they say... but I'm not looking the other way until price crosses my 100lwma, let the fight for control finish and when theres a clear winner jump on board, break and retest of that 100lwma is a great reversal entry. Not counter trend trading just catching the new trend as early as possible...

Yes this is me, thats for sure so much easier with the trend....

174.25 is the level to break...Then we could have some pips coming.....

Took 15 on first push but thought I'd go back in at 25 level for some more...

nope got stopped out at BE but worth a try ....

Morning Clive - what are you using on that m1 chart - a 100 lwma or an m5 100 lwma?

Took a 5 pip loss there as it didn't appear to be going so just closed it out, needlessly now as it appears to be going back down, see how the trend is your friend, and can turn bad entries into good ones, would of got out at BE if I'd left it but then you never know that for sure.... better safe than sorry now wheres my next little orphan coming from????

Hi Mike

Yep thats my 100lwma back on my chart I've tried several others and they are ok but the main reason I have the 100lwma is its the same as a 20 on a 5 min chart and its reversals tie up nicely with 15min CCI signals. I'm only interested in buying bottom of waves above it eg -100 CCI signals and sell wave tops below it +100 CCI signals. It also works well as support and resistance and one of my favourite signals is a break and retest of it.

Also all I want from my lwma is to tell me which way the trend is generally and which is the strongest then I just trade the CCI signals that way if the trend is still going strong EG the last drive took out the last one and I'm only selling CCI signals that are DT's or LH's and only buying CCI signals that are DB's or HL's.

My TTindy settings are set on the 1 min at 35lwma so I can check every drive one way or the other and see if I like it.These are my AB moves. The 5 min is set to 20 so is reading the slope of the 1 min 100lwma. Sounds complicated but its not.

In plain English what I'm doing is identifying a strong trend is in place(the steepest sloping 100lwma) from my 5 min TTindy then I sell the peaks (+100 CCI signals) in a down trend and buy the dips(-100 CCI signals) in an uptrend. Might add to that there are quite a few CCI signals using an 8 look back period so just need to qualify which ones to take as long as market structure in place(DT,LH or DB, HL) and at a key level.

I use 1 min because I've no patience at all and can't sit around all day waiting for signals , to be honest I find 1 min too slow, sad or what???? But this will work on any timeframe, I'm convinced the secret to trading is to only trade strong trenders, bad entries come good, good entries make more pips and if you can get in at the start eg first pullback on new trend you're laughing all the way to the bank...

Just my thoughts of course....

Gone a long way over night but does London fancy it up a bit more???

Suspect I should really be selling these JPY pairs but right now the trend is definately up so go with the flow, but fully expect richer pickings from a downward move this morning and NYO to take it back up again but who knows??? why guess??? just trade the price action that unfolds, simple as that...

Gotta go down from these dizzy heights surely???? Worth a quick 10 pips to find out anyway..

There's got to be a lot of fellas holding some nice buy positions from this overnight move desperate to bank thier profits and the "good old london boys" won't miss out on that trick I'm sure they will help them all to bank their profits and use the liquidity to make a quick buck on the way down, then around mid morning when they've filled up their bank accounts again look to buy back with the fundamentals of the overnight news release from Japan...

would expect heavy selling around this 178.00 level sooner or later.... But I'm just guessing, who knows????

Didn't you get your a** handed to you on a plate a few days ago going CT? You decided that you were a trend trader.

So sorry I don't think its worth a quick 10 pips to find out if this move down will work. You need to get your discipline a whole lot better. Your trading when following the system has been really good. If this is genuinely a move down there will be a system signal shortly. If not you have a BE/losing trade thats going to mess with your mind. Even worse it works and you think none system trades will be always ok to dabble with. You are meant to be trading a plan, not trading everything you think will happen, its a business treat it like one. The only thing between you and great success is you and your application of your system.

Discipline is the bridge between goals and accomplishments.

A goal is a dream with a plan.

Follow your plan.

I LIKE! very much.

Cheers my old friend I trust you are well.

Shamelessly pinching from my fave band another little gem, 'I can resist anything but temptation'. Not a good phrase for a trader, but then thats the whole point of that little line.

And most likely making matters worse, watching the losing CT get stopped out quite possibly meant the near perfect return to trend set up was missed?

Good morning Mr V.

Absolutely spot on!!! Very very wise words as usual Mr V. I took that sell got stopped out at BE and becos I was looking down missed the perfect buy trade that would be up about 50 pips by now....

But why do I still do that??? Why do i look for the reversal???? Just a crazy belief I know better than the market rather than trading the actual price action???

Like you say Discipline, discipline, discipline thats my whole issue but I'm getting there...Its the last piece of the jig saw....

Close very very close....